Crypto Tax & Portfolio Tracking, Simplified

Aggregate all your crypto investments & track your portfolio, in one place

Integrates NFTs, DeFi Protocols and Smart Contracts

14+ EVM compatible chains supported on over 300+ exchanged, with 50 wallets

Calculate Crypto Taxes within 30 minutes

  • Designed for crypto taxes in the Indian market
  • Preview your tax report - for free!
  • File compliant reports directly with the regulators

1000+

Happy Customers and growing

$2M

Portfolios tracked and increasing every day

30000+

Transactions processed

Cryptocurrency, NFTs, Smart Contracts: Sync it all, error-free

With high accuracy and minimal error, combine your trading history from 300+ exchanges, 50+ wallets, NFTs and Smart Contracts

Quick & compliant tax filing

Receive comprehensive and auto generated tax forms with the latest cryptocurrency Indian tax regulations

Get an overview of your distributed crypto holdings

Get a consolidated report on your ROI, P&L, capital gains across ALL your exchanges and gain insights on trading efficiently

Are you a Crypto Wallet or Exchange?

Ensure your customers receive accessible and accurate tax reports on our platform.

  • Self-integrate our Software Development Kits on your platform
  • In case of NO API integration, we have multiple means of integration solutions for every platform
  • Understand User Retention Analysis through our Intelligent Parameters and flag anomalies

A Few more Reasons to Choose us

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Chandan Kumar

Head, Client Development

Bitbns

Binocs team has delivered a high quality crypto compliance (accounting and tax) system. Their reconciliation engine also gives our users vital prompts about any discrepancy in the transactions. Their system is modular and scalable, therefore can handle the scale and our expansion in other countries. They have been a valuable compliance partner to BitBns and for that matter to any crypto exchange/ wallet/ investment app globally.

Bhupendra

Co-founder, Density

We are using Binocs to automate our crypto taxation infrastructure. Our users are able to track their TDS status using their simple interface and internally we are able to trace TDS for each sell and swap transaction. Binocs team has been really prompt and supportive right from our early days. More power to Binocs.

We decrypt Crypto for you

Team BinocsAug 4, 2022

Solana Hack What? Solana has been targeted in a hack over the past few days and we’re breaking it down for you and what you should do to protect your crypto assets in the futureIf you haven’t already heard about it, there’s an attack on the #SOL ecosystem right now. An attack on Solana essentially affects the entire crypto community, breaking the trust of new entrants in the marketWhat was the damage? ~8000 digital wallets have been hacked so far and the losses are estimated at $ 8 million.While Solana has not explained what happened in-depth, the majority of the community assures us, that this is not a bug from Solana’s end.In fact, the majority of the hack has affected individuals who use a hot wallet, mainly Phantom and Slope, both Solana-based wallet services.Hot wallets have internet-connected addresses making them prone to hacks and losing their private key.How can investors protect their crypto assets? The biggest solution to safeguard your crypto assets from such situations is to use a cold wallet. And even though cold wallets require additional steps to use, they protect your crypto assets from these hacks!If you intend on hodl’ing your crypto assets for the long term, it’s a no-brainer to transfer them to cold wallets, keeping the private key extremely safe and protected.

Team BinocsJul 29, 2022

Key TakeawaysWhile stocks have been there for decades, cryptocurrency and particularly Bitcoin, is in the nascent stages of a new investment class. With a new investment class being introduced, the risks of owning these assets are higher, but so are the returns, which are then taxed accordingly, too. Yes, we’re talking about cryptocurrency. While this article does a comparison of both the asset classes, as an investment rule of thumb, it’s always better to diversify your assets and not go all in, in just one asset class. In India, long-term equity gain is taxed at a rate of 10%, while short-term equity gains are charged at 15%. On the other hand, cryptocurrency gains are taxed at a flat 30% plus applicable surcharge and cess, with 1% TDS applied on transactions. Cryptocurrency Taxation in India During the Finance Budget 2022, the Finance Minister introduced a taxation regime on cryptocurrency for the first time. The announcement made was that all cryptocurrency gains would be taxed at a flat rate of 30% plus applicable surcharge and cess. Along with that,  no set-off against losses was provided. Investors also cannot carry forward their losses. For example, the gains on a BTC transaction cannot be set off against the losses from an ETH transaction. Along with the flat tax rates, a 1% TDS will also be applied on transactions that take place on the exchange or via P2P transfers made through a platform. To know more about TDS and when and how it is charged, read our explainer on it here.While the high tax rate most definitely disheartened the crypto community, there was a sigh of relief, too, to get some clarity on the government’s stance on cryptocurrency. Equity taxation in IndiaMoving onto the equity side, equity stock gains in India are categorized under two-time scales. One is short-term capital gains, and the other is long-term capital gains. Capital gains from any investment or trade that occurs in less than one year is a short-term capital gain and are taxed at 15%. Long-term capital gains, on the other hand, are taxed at 10%. Along with that, no TDS is applicable on equity stocks, but charges such as security transactions tax, STT, brokerage fees, depository fees, and cess are charged at the time of carrying out the transaction. Investors can also set off their equity gains against their equity losses. If the loss is not set off entirely, it can be carried forward for eight years and adjusted against any short-term or long-term capital gains made during these eight years.Prima facie, equity stocks at present are tax efficient in India. But it is time to discuss the pros of investing in both the asset classes and how the overall end gains to the consumer may not be affected too much indirectly. Pros of investing in cryptocurrency 1. Possible hedge against traditional fiat currency The biggest feature of cryptocurrency is its decentralization of it and how it is not regulated by a single organization or government. Most fiat currencies are regulated by their respective central banks and governments, which have the singular power in their hands to navigate the finances of their currency.Due to this, the currency loses its value, experiences high inflation, and does not provide the necessary store of value. Cryptocurrencies are not regulated by a single authority, and hence, many investors think they will provide a hedge against fiat currency and, indirectly, inflation. Cryptocurrency is often hence referred to as Digital Gold because of this particular feature. 2. Potential for unexpected gainsSince cryptocurrencies are in the innovative stages as yet, they come at a higher risk which is rewarded with higher and massive returns. Cryptocurrencies have been known to skyrocket, and some altcoins have also given 1000+% returns in a short span of time, which have then, of course, also crashed. If you’re a cautious investor and you can tread carefully in the cryptocurrency space, your portfolio can receive outsized gains, something which cannot be experienced with other asset classes. 3. Diversification and altcoins Earlier, the cryptocurrency space was dominated by Bitcoin and Ethereum only. But as more and more businesses started understanding the blockchain mechanism, more coins have been introduced, giving investors diversification to their crypto portfolio and letting them invest in businesses they care about. These coins include Solana and Matic, among others.4. Wide adoption of digital currencies Earlier cryptocurrencies came with their fair share of high risk and were illiquid in nature, which is why many multinationals did not invest in cryptocurrencies. But over time, companies have started diversifying their portfolio by adding cryptocurrencies to them. Tesla held Bitcoin on its balance sheet and briefly accepted the digital currency as payment before reversing course. El Salvador adopted Bitcoin as legal tender in 2021. Pros of investing in equity stocks 1. A long history of steady returns One of the biggest advantages of equity investing is how steady the returns are over time, with the Indian stock markets producing a return of more than 10% year on year on an average basis. While stocks also experience their fair share of volatility, over time, it evens out, giving solid returns to its investors. 2. Represents an intrinsic value When investing in equity, it means investing in a company that conducts tangible business. Products that one can see, use, feel, or experience. Companies like consultancy, metals, FMCG products, and so on. All of them have an underlying asset that produces revenue and cash flows that create tangible value. 3. Easy adoption and accessibility One can simply create a Demat account and start investing in equities by linking their bank account. It is absolutely easy to invest in equities, and because of large volumes, there is enough liquidity in the market. There are plenty of options for even mutual funds and index funds if one does not wish to invest directly with the stocks. 4. Regulations in place Stock exchanges, brokers, and all other parties involved are regulated via various government agencies. Companies are required to provide certain information to investors in a timely manner through the Securities and Exchange Board of India. In case of fraudulent transactions, investors are protected due to the presence of an industry regulatorTo put it all together, while equity transactions have a favorable tax regime, the returns from cryptocurrency balance out the taxation for cryptocurrency. Investors also need to ensure they only invest with respect to their risk capacity and diversify their portfolios to minimize the risks. While the no tax loss harvesting (set off of losses rules and carried forward of losses rules) in cryptocurrency taxation in India can be a little discouraging, the crypto community is persuading for friendly taxation rules. Hopefully, in time. Till then, we can just buy and HODL! Binocs helps users calculate their crypto taxation by simply linking their wallets and accounts. Complaint with the latest Indian regulations, users just need to add a few details and can generate their tax reports. Check it out here. Frequently Asked Questions 1. At what % are cryptocurrency gains taxed in India? Currently, cryptocurrency gains are taxed at a flat rate of 30% plus applicable surcharge and cess for all transactions post 1st April 2022. 2. At what % is equity taxed in India? Short-term equity gains are taxed at 15%, whereas long-term equity gains are taxed at 10%3. Is there TDS for both cryptocurrency and equity stocks? No. Equity transactions do not have any TDS applicability, whereas cryptocurrency transactions attract a 1% TDS rate. 4. Can Indian investors harvest their losses incurred on cryptocurrency-related investments?No. Unlike in other countries like the US, Indian investors cannot harvest their losses in cryptocurrency-related investments (i.e., No set off of losses rules and carried forward of losses incurred in cryptocurrency-related transactions)

Frequently asked questions

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Do I need to add any personal information?
No personal information is required to set up your account and profile. Binocs has no KYC requirements, which means you can continue using our features and softwares anonymously. To sign up, only your email ID is required. But apart from that, KYC-related documents are not needed.
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